We are excited to welcome Sam Sanders as the newest broker with Swan Land Company. Sam grew up working on his family’s ranches in Wyoming and Montana. Acquired from this ranching lifestyle, he has a keen awareness of the beauty, benefits and challenges of any given property. For 12 years Mike Swan and Sam worked closely together at Bates Sanders Swan Land Company. “Sam’s depth of knowledge and expertise in the real estate profession combined with his high level of integrity is a perfect fit for our team.
Swan Land Company - Blog
We are pleased to announce the sale of the South Willow Creek Estate located in Harrison, Montana.
The first discovery of gold in Montana was in 1852 on what is now Gold Creek about twenty miles north of Deer Lodge. Pan and sluice mining of gold by James and Granville Stuart, in 1860, attracted other prospectors to a district that was soon to be established.
There are many important financial issues to be aware of when selling a farm or ranch. Planning for a sale with a team of advisors well in advance of a sale is critical for identifying these issues and for implementing strategies to effectively deal with them. One of the biggest issues is the income tax that can result from a sale.
Selling highly appreciated (or depreciated) property can result in a large tax bill. Taxes due on the sale may range from 20% to over 50% of the sale price depending on the cost basis of your property and how your property is owned. Prior to listing your property, it is wise to have a CPA perform a tax projection on the sale. Having an estimate of the tax bill you would face is valuable information when considering tax-saving strategies.
During the 1800’s the land near present-day Big Timber, Montana was somewhat of a cross roads for the Indians of the region. The first white men know to be in the area were William Clark and his Corps of Discovery. As noted in Clark’s journal, “Rivers Across” refers to where the Boulder River and Big Timber Creek empty into the Yellowstone River just north of Big Timber. Between 1860 and 1880 the Indians gave way to trappers, traders, and settlers discovering the abundant opportunities this fertile area had to offer.
The IRC Section 1031 Exchange is one of the most powerful tax saving and wealth building tools available for people selling highly appreciated real estate. A properly structured 1031 exchange allows a family selling a farm or ranch to sell land, to reinvest the proceeds in other “like-kind” real estate, and to defer capital gain taxes.
To quote the tax code, IRC Section 1031 (a)(1) states: "No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment, if such property is exchanged solely for property of like-kind which is to be held either for productive use in a trade or business or for investment."
The snow-capped peaks of the Bridger Mountains, the colors of the foliage and the bugling elk on the Lazy J Ranch are signals that autumn has arrived in Montana. Click here to view a video with additional elk images on this Southwest Montana ranch for sale in Bridger Canyon just minutes from Bozeman.
Mike Swan, Managing Broker and Owner of Swan Land Company, was honored to be invited as a panel speaker at the 2013 Law Seminars International - Seventh Annual Idaho Water Law Conference held this week in Boise, Idaho. The focus of the seminar was Water and Real Estate. He joined respected attorneys, engineers and legal professionals who specialize in water rights, water law and litigation.
Long before Lewis and Clark arrived in the area, the Native Americans referred to the Gallatin Valley as “The Valley of Flowers”. Although the Valley was claimed by the Blackfoot, it is said that it was recognized by all Indians as neutral ground. Legend has it that a band of Sioux, following Bridger Creek encountered a band of Nez Perce and a battle ensued. After two days of endless battle the warriors were spoken to by a figure, the “Spirit Maiden,” standing on what is now known as “Maiden Rock”, who said the beautiful Valley of Flowers was created by the Great Spirit for his children.
A charitable remainder trust (CRT) enables a family selling a farm or ranch to avoid or defer tax on the sale and generate lifetime income for retirement. In addition to saving taxes and generating a lifetime income, a CRT provides several other benefits: